The SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 (LODR) govern the ongoing compliance and disclosure obligations of listed companies. Non-compliance attracts fines, trading suspension, and other actions by SEBI and stock exchanges.
Key Compliance Calendar
| Frequency | Filing/Action | Deadline |
|---|---|---|
| Continuous | Material events disclosure (Reg 30) | 24 hours of occurrence |
| Quarterly | Financial results (Reg 33) | 45 days from quarter end (60 days for annual) |
| Quarterly | Corporate governance report | 21 days from quarter end |
| Quarterly | Shareholding pattern (Reg 31) | 21 days from quarter end |
| Quarterly | RPT disclosures (Reg 23) | 15 days from quarter end |
| Half-yearly | Statement of investor complaints | 21 days from half-year end |
| Annual | Annual Report submission to exchange | 21 working days of AGM |
| Annual | Secretarial compliance report | 60 days from year end |
Regulation 30 — Material Events Disclosure
Listed companies must disclose material events to exchanges within 24 hours. Material events include: Board meeting outcomes, financial results, NCLT orders, major contracts, key management changes, significant litigation, demergers, buy-backs.
Regulation 33 — Financial Results
Quarterly financial results must be submitted within 45 days from quarter end (for standalone) and 60 days for consolidated. Must be reviewed/audited by board's audit committee. Results must be published on exchange website and company website.
Regulation 23 — RPT Disclosures
- All material RPTs require prior shareholder approval
- Material RPT: 10% of consolidated annual turnover of the company
- Half-yearly disclosure of all RPTs on exchanges
Corporate Governance Report
Quarterly corporate governance report covers: composition of board and committees, attendance, code of conduct compliance, KMP remuneration, related party disclosures.
Penalties for LODR Non-Compliance
- Fine: Rs. 1,000 per day of delay (for each violation)
- Suspension of trading (for serious non-compliance)
- Adjudication proceedings by SEBI (up to Rs. 25 crore per violation)
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